If workers lose their jobs to imports and central banks can’t bolster domestic spending enough to re-employ them, a country may be worse off, Greg Ip explains

Economists disagree on plenty, but they’re pretty much unanimous that free trade is good and protectionism is bad. Elite opinion among noneconomists concurs: Editorial pages have roundly condemned Republican presidential front-runner Donald Trump for threatening to tear up trade agreements and slap steep tariffs on Mexico and China. But the case for free trade and against protectionism […]